LAWRENCEVILLE, Ga. — Majors Management LLC is adding to its convenience store portfolio with the acquisition of McDonald Oil Co.'s 18 convenience stores in Georgia.
Located primarily in the LaGrange and Columbus metropolitan areas, the stores operate under the Summit Food Store banner. The deal also includes four open dealer accounts.
NRC Realty & Capital Advisors LLC served as exclusive financial advisor to McDonald Oil in the sale.
"We are very pleased to sell our stores to another operator based in Georgia. We are confident that our Georgia locations will be in good hands with Marvin Hewatt and his entire team," said John McDonald, president and CEO of McDonald Oil. "Our Georgia locations are highly attractive properties."
Headquartered in LaGrange, McDonald Oil was founded in 1972. Throughout the company's history, the petroleum marketer and c-store operator has owned and operated as many as 56 stores in Georgia, Alabama and Florida.
McDonald Oil and its LABE Restaurant Group will continue to operate its numerous other business interests. It will maintain its Summit Stores on the Alabama Gulf Coast and Frisky Whisky liquor store on the Georgia side of the Alabama state line. LABE Restaurant Group will continue operations of its Dairy Queen Grill & Chill restaurants and its Jersey Mike’s Sub Shops throughout Georgia, Alabama and Florida.
The transaction marks Majors Management’s third acquisition in the last two months. During the month of August, the company acquired 17 of Bowden Oil Co. Inc.'s Shop "N" Fill c-stores, followed by nine Allsup's Convenience Stores locations, as Convenience Store Newspreviously reported.
Based in Lawrenceville, Majors Management develops, services and supports leased c-stores with gasoline and retail sales. A branded fuels distributor, Majors Management partners with brands including Chevron, CITGO, Exxon, Mobil, Phillips 76, Shell, Sunoco, Texaco and Valero. Its current markets include Georgia, Florida, Tennessee, Louisiana, Ohio, Alabama, Mississippi, South Carolina, North Carolina and Arkansas.